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Frasers Hospitality's debut perpetual securities attract S$500M in orders

's debutperpetual securities received orders totaling more than S$500 million.

About35% of the "strong demand" came from institutional investors, accordingto a news release.

The Singaporetrust raised S$100 million from the issuance, with the perpetual securities havinga fixed 4.45% annual distribution rate.

FrasersHospitality plans to use proceeds from the perpetual securities to fund potentialacquisition and investment opportunities, for working capital requirements and generalcorporate purposes.

DBS BankLtd. and Oversea-Chinese Banking Corp. Ltd. are the joint lead managers and bookrunners for the issuance.

As of May 5, US$1 was equivalentto S$1.36.